In this article, we will focus on our CTO as a Service Podcast. The podcast is about the importance of CTO in IT companies.
Today, the high-tech market is developing exponentially, which attracts a lot of investment, and has begun to cause some problems. One of the most critical problems now is the lack of technical specialists with the necessary experience and expertise. The market for technical specialists is experiencing a severe hunger, which is why software development companies have started offering services such as dedicated team CTO as service. We will tell you about the last of these services today. Also, in the podcast, you can learn how to hire the right CTO and not lose resources by hiring a bad CTO.
Matthew Cochran has 24 years of experience as a technical person. Right now, he is the CTO at TRUTHSHIELD and ARTNET, so Artnet connects the world’s art collectors, professionals, and institutions to business-critical data and information, and TRUTHSHIELD is for founders, professional leaders, and executives who run teams to build digital products. Truthshuild is his own company, he is the Founder and the CTO.
CTO is essential for companies developing products if they want to work effectively, not to do some things over and over again, constantly moving from one technology stack to another, CTO will help with the effective organization of development processes, management of the development team, and other aspects of your organization. So, for example, you cannot gather doctors in a circle and say that you are a hospital and send doctors to do something. You need a person who can effectively organize and control the work of specialists.
This is all happening out of necessity; now we have a lot of companies, and the development market is experiencing a huge hunger for IT specialists and CTO. The software product development market is developing exponentially, and there are not enough necessary specialists to fill the needed positions. Partly, the market played a role, but many startups also realized that they needed help to organize some processes within the company to improve efficiency. CTO is a rather expensive resource, so it is often much cheaper and easier to hire CTO as a service to at least temporarily fill this position in your organization. Of course, you want to avoid all those mistakes that you can make at the beginning without an experienced specialist mentor in the person of CTO.
According to Matthew, most often CTO as service, that is, outsourcing CTO tasks, is the best solution if you want to find a person with certain expertise and if you need a person at the very beginning of your organization, for example, for a startup. But if your company is developing something peculiar, then maybe you’d better nurture your in-house CTO. Of course, it is most profitable to outsource a CTO since you can always hire him from anywhere in the world and pay him less than you could pay a CTO that is located in the USA or Europe. If you are not a technical person, then it is essential at the very beginning to have a person with a lot of technical experience, such as a CTO. Still, he is quite expensive, so in this case, CTO as a service is an excellent solution for you.
But there is a problem with hiring an outsource CTO. As for the services provided, it is essential to understand as early as possible whether this specialist has the expertise and experience that he allegedly owns since anyone from the street can put on a sign and say that he is CTO.
In conclusion, CTO as a service has become an excellent solution for startups who do not want to make mistakes that startup companies can usually make; CTO will be able to help effectively set up development processes and team interactions, where technical specialists will not redo what has already been created over and over again.
Also, CTO as a service is perfect for those who are not technically savvy people who want to develop their product, since CTO will take over the product’s technical development responsibilities. If you're going to reduce mistakes related to the technical part at the beginning of your company and product development, then the best solution for you will be CTO as a service.
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